By Daryl L. Staley, CPA, MBA Tax Manager
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later.
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with you, save for college and learn how to manage money. And you may be able to:
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs
The U.S. Small Business Administration (SBA) is awarding $28.6 billion in funding to restaurants, bars, and other similar places of business that serve food or drink.
Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge.
Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property.
Owners of incorporated businesses know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments.
Are you thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved in providing a traditional pension plan?
The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 on Tuesday, March 30, 2021 when President Joe Biden signed the extension into law.